Mississippi Administrative Code
Title 12 - Finance and Administration
Part 3 - Bureau of Building, Grounds and Real Property Management
Chapter 2 - Rules for the Bureau of Building, Grounds and Real Property Management
Rule 12-3-2.1 - Policies and Procedures
Section 12-3-2.1-200 - PROJECT REQUESTS
Section 12-3-2.1-200.16 - BOND BILLS

In recent years, the Legislature has favored funding long term capital improvements through the sale of General Obligation [GO] Bonds backed by the full faith and credit of the State of Mississippi. Any expenditure financed by GO bonds should have a life expectancy of twenty (20) years.

The entire amount of bonds authorized in a Bond Bill may not be sold all at one time. GO Bonds may be sold at various times during the year. Therefore, the sale and depositing of bond funds must be considered in awarding contracts.

Once bonds have been sold and deposited into the State Treasury, funds must be expended within three (3) years in order to avoid arbitrage and damage the State's bond rating.